Best practice to manage large amount coins should be choosing a multi-signature scheme.
For individle users mobile phone and personal computer multi-sig is practicable solution.
While that can definitely work for sure, this might be too difficult to do and
might be too much of a hassle for people who just want to easily store their cryptocurrencies without doing much work/research.
Decent mobile Bitcoin wallet is good enough for daily use. Nowadays, the security performance of mobile phones surpasses that of ordinary hardware wallets. iPhone is more secure than a large number of hardware wallets(base on Android).
iOS devices are mostly safer than Android devices for sure. But iPhone devices being more secure than hardware wallets? Definitely not. While iOS devices are quite safe, the risk of the private keys being exposed is still there, as the private keys are still stored on the mobile device. Whereas with hardware wallets, the private keys never leave the device.
Hardware wallets(Ledger Nano S) need connecting to PC, the PC is online.
While, I think the bigest problom of hardware wallets is seed-words backup issue. Keys loss is big threat than theft for most of users.